With domestic sales of over Rs. 20,000 crores and exports of about Rs.14,000 crores per annum, the Pharmaceutical Industry is a major segment of Indian economic activity.

With the availability of highly cost competitive and technical capabilities, the Indian Pharma Industry is poised to offer its services in the field of;
- Collaborative Research
- Providing base for conducting Phase I and II clinical trials
- Contract manufacturing
- Consultancy

In addition, Pharmexcil have action plans in different operational segments of the Industry as follows :-
a) Technological Upgradation
Having gone global, the Indian Pharma Industry cannot but remain technologically updated . Keeping track of newly evolving technology in the Pharma sector and effectively projecting the same to its constituents will be an important segment of the functions to be performed by the newly formed Pharmexcil.

b) Research & Development
Research & Development is not only a need but the very lifeline of an Industry like Pharmaceuticals. This fact has been well understood and of late, there has been a regular and consistent growth in the investment on R & activity in the Indian Pharmaceutical Industry. Pharmexcil will act as a catalyc in maintaining and accelerating this tempo.

c) Policy Initiatives
Pharmexcil would be closely monitoring from time to time policy initiatives and procedures to facilitate exports. It will provide feedback to the government and its agencies connected with exports on the adequacy or otherwise of the policy support measures and need for adjustments therein specific to Pharma Industry and endeavour to bring about improvements and requisite changes.

d) Promotional Measures
Pharmexcil would strengthen the traditional methods of promoting exports like Market Research, Publicity and liaison with international Chambers of Commerce, Industry Associations, Regulatory Authorities and Purchase Agencies in target markets.

In addition, Pharmexcil would plan and implement activities whereby the attention of overseas buyers of products as well as services and Regulatory authorities would be focussed on the capabilities of Indian Pharma Industry. For example, efforts would be made to make India as one of the venues for staging the most important and patronized event like CphI . Similarly , Pharmexcil would set up channels for substantive and regular interaction on various aspects of the Industry with relevant agencies on a global scale.

To begin with, sponsoring delegations and arranging buyer-seller meets have been planned in the ASEAN, African and CIS countries. If approved by the Ministry of Commerce, these projects will be implemented during the current year itself. U

- (Extracted from the presentation by D B Mody, Chairman, Pharmexcil at PharmaTech 2004)